ONDA Surpasses KRW 1 Trillion in Cumulative GMV, Targets KRW 400 Billion in 2024

‍

• ONDA Achieves KRW 1 Trillion in Cumulative Transactions in Just 8 Years

• Expanding Business Portfolio with SaaS based PMS and Managed Operation Services‍

‍

(Seoul, South Korea - August 22, 2024) ONDA, a South Korean hospitality technology company, has announced that it has surpassed KRW 1 trillion in cumulative accommodation distribution GMV (Gross Merchandise Value).

‍

Since its founding, ONDA has recorded a total cumulative GMV of KRW 1.015 trillion as of July 25, 2024, with KRW 211.5 billion accumulated between January 1 and July 25 of this year alone. ONDA has facilitated over 5.4 million bookings to date.

‍

ONDA first exceeded KRW 100 billion in annual GMV in 2021, followed by KRW 200 billion in 2022, and KRW 300 billion in 2023, showcasing rapid and sustained growth. This year, the company aims to surpass KRW 400 billion in annual GMV.

‍

The success of ONDA is driven by its strategy of diversifying both accommodation offerings and sales channels. Initially focusing on small and mid-sized properties and a limited number of sales channels, ONDA now distributes a wide range of accommodations—from vacation rentals to luxury chain hotels—to over 65 domestic and global sales channels.

‍

As of 2024, ONDA's GMV is split between small and mid-sized properties such as vacation rentals and luxury villas, which account for approximately 60%, and hotels and resorts, which make up the remaining 40%.

‍

Securing over 65 sales channels has been a significant achievement for ONDA. Domestic OTAs and platforms account for the largest share at 38%, followed by global OTAs at 20%, direct-to-consumer (D2C) channels at 10%, and members-only online marketplaces at 4%. The fastest-growing segment is global OTAs, which have surged by 44% year-over-year.

‍

Beyond accommodation distribution, ONDA is evolving into a fulfillment hospitality technology company. Its subsidiaries, ONDA Wassong and ONDA Management, have successfully managed hotel and residential lodging operations. Additionally, its hospitality solution subsidiary, OA Tech, now serves over 300 hotels as of the first half of this year.

‍

ONDA’s revenue model, once primarily dependent on transaction fees, now includes diversified streams such as SaaS-based Property Management System (PMS) subscriptions and managed operations, which have significantly bolstered its growth.

‍

“Since its founding, ONDA has aimed to foster sustainable growth for all members of the hospitality ecosystem,” said Hyun-seok Oh, CEO of ONDA. “This achievement was made possible by the unwavering support of our partners who share our vision.”

‍

###

‍

About ONDA

‍

ONDA is a leading hospitality technology and data company in South Korea, covering around 70% of the domestic online accommodation booking market in Korea. ONDA enables properties around the world to increase their online sales and operational efficiency, providing both management solutions and B2B sales platform. It has built strong partnerships with global companies, being the first in Korea to be named an Airbnb and Trip.com preferred partner, and recognized as a 2024 Booking.com Advanced Connectivity Partner. For more information about ONDA, visit global.onda.me.

‍